AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A descent downwards to the next support line at 96.92900 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 97.92300 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Tweezers Top’ candle pattern is discovered. The chart forms ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.73100 |
| Next High | 97.92300 |
| Current Price | 97.52400 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top